Strategy aims to turn Vietnam into leader in blockchain technology application

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Hanoi – Deputy Prime Minister Ho Duc Phoc has signed a decision issuing a national strategy on the application and development of blockchain technology until 2025 with a vision to 2030, with an aim to turn Vietnam into a leading country in the region with an international position in researching, deploying, applying, and exploiting blockchain technology.

The strategy targets to ensure Vietnam is capable of mastering and applying blockchain technology in all socio-economic fields, realising the goal of becoming a stable and prosperous digital nation.

Under the strategy, a comprehensive foundation for the development of blockchain technology is expected to be formed by 2025.

Research and development activities of blockchain technology will be promoted at three national innovation centres, while 10 research and training facilities will be built and upgraded to serve human resources development for blockchain technology. At the same time, blockchain technology is hoped to be added to the curriculum of universities, colleges, vocational schools, and research facilities.

At least one blockchain centre/special zone/test site will be established to form a national blockchain network, while a "Blockchain+" ecosystem is expected to be developed through the application of blockchain technology in industries such as finance - banking, transportation - transportation, health care, education and training, trade, logistics, post - delivery, industrial production, energy, tourism, agriculture, and public service provision, according to the strategy.

By 2030, the national blockchain infrastructure is hoped to be consolidated and expanded to provide services both domestically and internationally. Standards on blockchain application and development in Vietnam will be issued, bringing Vietnam into the list of leading countries in the region and the world in blockchain research, application and development. By 2030, Vietnam expects to have 20 reputable blockchain brands in terms of platforms, products, and services on blockchain technology platforms in the region.

Meanwhile, the country is set to maintain at least three blockchain technology testing centres/zones in major cities to form a national blockchain network. Vietnam also expects to have representatives in the top 10 blockchain training and research institutions in Asia.

To realise the targets, the strategy highlights a number of tasks and solutions, focusing on building and perfecting the legal framework to create a favourable environment for blockchain application and development, developing Vietnam's blockchain infrastructure to serve multiple purposes, and designing a mechanism to manage, use Vietnam's blockchain infrastructure.

Particularly, concentrated information technology zones will be established, creating spaces to form an ecosystem for developing blockchain industry and digital technology industry, according to the strategy./.